The 10 richest people in Africa and where their billions come from

South Africa and Egypt have the most names on the list with 3 each, followed by Nigeria with 2. Only one woman features on the list -- Angola’s richest person, Isabel Dos Santos.

American business magazine, Forbes, describes these people as members of the three-comma club. While most of them are engaged in known philanthropic endeavours, a notable exception is Issad Rebrab, Algeria’s richest man.

1. Aliko Dangote

Dangote is the biggest business brand on the African continent and indisputable Africa's pride. He is also among the top 100 richest personalities in the world.

The Nigerian-born billionaire has interests in commodities in Nigeria and other African countries.

At 61, Dangote isn't getting younger as he recently said after the completed of his $12bn refinery project he will take a back seat from the Boards of his conglomerate and take a wife.

His future ambition

Aliko Dangote is still gunning for the London club, Arsenal football team after he sees through the Refinery. He said he will involve himself in rebuilding the team and offers an advisory role when the time comes.

Country: Nigeria

Net worth: $12 billion

Industry: Cement, sugar, flour

Philanthropy: Aliko Dangote Foundation

2. Nicky Oppenheimer

South African billionaire businessman and philanthropist. Nicky is currently the richest man in South Africa. He was formerly the chairman of De Beers diamond mining company and of its subsidiary, the Diamond Trading Company, and former deputy chairman of Anglo American.

The diamond powerhouse believes Africa can do it all on its own without the backings of western governments.

If Nickey had to spend his money in dollars and spent N1 million per day, his money would run out in over 20 years.

Country: South Africa

Net worth: $7.7 billion

Industry: Diamonds

Philanthropy: Brenthurst Foundation

3. Johann Rupert

The South African-born entrepreneur is the eldest son of business tycoon Anton Rupert and his wife Huberte.

He owns the Swiss-based luxury-goods company Richemont as well as of the South Africa-based company Remgro.

He shocked the world in 2005 when the British design magazine Wallpaper described the Afrikaans language as "one of the ugliest languages in the world" Rupert responded by withdrawing advertising for his companies' brands such as Cartier, Van Cleef & Arpels, Montblanc and Alfred Dunhill from the magazine.

Country: South Africa

Net worth: $7.2 billion

Industry: Luxury goods

Philanthropy: Laureus Sport for Good Foundation

4. Nassef Sawiris

Nassef is the current richest person in Egypt. He owns 30% of OCI, a Geleen, Netherlands-based construction contractor, and 27% of Dubai-based Orascom Construction, an infrastructure and engineering group.

His other assets include stakes in the sportswear company Adidas and LafargeHolcim, the world's biggest cement maker.

His tenacious ambition

In 2015, he caught the world’s attention after offering to buy a Mediterranean island from Greece or Italy at a price range between $10 to $100 million to build a new country from scratch.

He had said in a tweet that he will host migrants and provide jobs in the new country.

His stake in Aston Villa

Reports said Nassef Sawiris and his American business counterpart, Wesley Eden have pumped about £4 million into Aston Villa. The duo was reported to have a seal a joint 55% stake in Aston Villa from the Chinese co-owner Tony Xia.

Country: Egypt

Net worth: $6.8 billion

Industry: Construction, chemical, football

Philanthropy: Sawiris Foundation for Social Development (Family).

5. Mike Adenuga

Nigerian billionaire businessman, and the second-richest person in Nigeria. His company Globacom is Nigeria's second-largest telecom operator and has a presence in Ghana and Benin.

Mike Adenuga Jr has received three national honour in the 6 years. The last one was bestowed on the African billionaire by the president of France, Emmanuel Macron, during his visit to Nigeria in July 2018.

The conferment makes Adenuga the first Nigerian to be decorated with the national honour award in the history of France.

Adenuga disrupts Nigeria’s telecommunications sector

Fondly called The Bull, Adenuga disrupted the mobile telecommunication sector in 2003 when his company, Glo Mobile introduced lower tariffs, pay per second billing and alongside other value-added services.

Country: Nigeria

Net worth: $5.3 billion

Industry: Telecom, oil

Philanthropy: Mike Adenuga Foundation.

6. Issad Rebrab

An Algerian billionaire businessman and owner of CEVITAL industrial group, the largest private company in the country.

Rebrab bounced back in 1998 when his steer industry installations were destroyed in a terrorist attack in 1995 which caused him to leave his country of origin.

He came back in 1998 to establish the biggest group in agricultural business, Cevital. The company later became the private Algerian company and owns one of the largest sugar refineries in the world.

He added El-Khabar media group to his already owned French-Algerian daily paper, Liberte in 2016.

His ambition

In September 2018, the wealthy businessman denied rumours of his intention to run for president in 2019.

He said his only ambition is to contribute to the development of Algeria and be "more useful to the nation in the area of wealth creation and jobs".

Country: Algeria

Net worth: $4 billion

Industry: Food, media, steel and agribusiness

Philanthropy: Nil

7. Naguib Sawiris

The Egyptian billionaire businessman is the chairman of Weather Investments Company and chairman of Orascom Telecom Media and Technology Holding S.A.E.

The Orascom Group was established by his father. Since manning the family business in 1979, Sawiris has contributed to the growth and diversification of the company known as Egypt’s largest and most diversified conglomerates and the country’s largest private sector employer.

Billionaire Nassef Sawiris is his brother.

Country: Egypt

Net worth: $3.8 billion

Industry: Telecoms

Philanthropy: Sawiris Foundation for Social Development (Family)

8. Koos Bekker

The South African billionaire is the chairman of Naspers, a leading media group with the largest market capitalisation of any media company outside the US and China.

His company Naspers invested $32 million in Chinese Internet and media firm, Tencent, to worth about $66 billion 15 years later. The highest profitability bets he made so far.

Naspers has investments in pay television, mobile telephony and various internet services. The group spans Europe, Africa, Latin America, China, India, Russia and other smaller nations.

Country: South Africa

Net worth: $2.8 billion

Industry: Media, investments

Philanthropy: Causes and Charity

9. Isabel dos Santos

Isabel is an Angolan businesswoman and Africa's richest woman. Forbes Magazine said she acquired her wealth through takes in companies doing business in Angola and from her family's connections and power as the daughter of the immediate past Angolan president.

She lost an oil exploration license in May 2018 after the Angola government failed to renew her contract.

She has interests in telecommunications, media, retail, finance and the energy industry, both in Angola and in Portugal.

Country: Angola

Net worth: $2.7 billion

Industry: Investments

10. Mohammed Mansour

Former politicians and Egyptian businessman chairman of a family business, Mansour Group. The group controls nine of Egypt's top Fortune 500 companies.

Mansour Group is one of the biggest GM distributors worldwide.

In 2006, he was elected Minister of Transport but was forced to resign his appointment due to the major accident under his ministry.

Mansour returned to his private business and founded Mancapital of London in 2010.

Country: Egypt

Net worth: $2.7 billion

Industry: Diversified

Philanthropy: Mansour Foundation for Development Arab Foundations Forum.

Also from Business Insider Sub-Sahara Africa:

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Billy Koelling

Update: 2024-08-22

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